Bad Money: Reckless Finance, Failed Politics, and the Global Crisis of American Capitalism
by: Kevin Phillips
List Price: $25.95
Prices subject to change.
Price: $17.13
You Save: $8.82 (34%)Prices subject to change.
Availability: Usually ships in 24 hours
Product Description:
The bestselling author reveals how the U.S. financial sector has hijacked our economy and put Americas global future at risk
In American Theocracy, Kevin Phillips warned us of the perilous interaction of debt, financial recklessness, and the increasing cost of scarce oil. The current housing and mortgage debacle is proof once more of Phillipss prescience, and only the first harbinger of a national crisis. In Bad Money, Phillips describes the consequences of our misguided economic policies, our mounting debt, our collapsing housing market, our threatened oil, and the end of American domination of world markets. Americas current challenges (and failures) run striking parallels to the decline of previous leading world economic powersespecially the Dutch and British. Global overreach, worn-out politics, excessive debt, and exhausted energy regimes are all chilling signals that the United States is crumbling as the world superpower.
Bad money refers to a new phenomenon in wayward megafinancethe emergence of a U.S. economy that is globally dependent and dominated by hubris-driven financial services. Also bad are the risk miscalculations and strategic abuses of new multitrillion-dollar products such as asset-backed securities and the lure of buccaneering vehicles like hedge funds. Finally, the U.S. dollar has been turned into bad money as it has weakened and become vulnerable to the worlds other currencies. In all these ways, bad finance has failed the American people and pointed U.S. capitalism toward a global crisis. Bad Money is the perfect follow- up to Phillipss last book, whose dire warnings are now proving frighteningly accurate.
The bestselling author reveals how the U.S. financial sector has hijacked our economy and put Americas global future at risk
In American Theocracy, Kevin Phillips warned us of the perilous interaction of debt, financial recklessness, and the increasing cost of scarce oil. The current housing and mortgage debacle is proof once more of Phillipss prescience, and only the first harbinger of a national crisis. In Bad Money, Phillips describes the consequences of our misguided economic policies, our mounting debt, our collapsing housing market, our threatened oil, and the end of American domination of world markets. Americas current challenges (and failures) run striking parallels to the decline of previous leading world economic powersespecially the Dutch and British. Global overreach, worn-out politics, excessive debt, and exhausted energy regimes are all chilling signals that the United States is crumbling as the world superpower.
Bad money refers to a new phenomenon in wayward megafinancethe emergence of a U.S. economy that is globally dependent and dominated by hubris-driven financial services. Also bad are the risk miscalculations and strategic abuses of new multitrillion-dollar products such as asset-backed securities and the lure of buccaneering vehicles like hedge funds. Finally, the U.S. dollar has been turned into bad money as it has weakened and become vulnerable to the worlds other currencies. In all these ways, bad finance has failed the American people and pointed U.S. capitalism toward a global crisis. Bad Money is the perfect follow- up to Phillipss last book, whose dire warnings are now proving frighteningly accurate.
Alternate Versions:
Related Items:
- The Trillion Dollar Meltdown: Easy Money, High Rollers, and the Great Credit Crash
- The Limits of Power: The End of American Exceptionalism
- American Theocracy: The Peril and Politics of Radical Religion, Oil, and Borrowed Money in the 21stCentury
- The New Paradigm for Financial Markets: The Credit Crisis of 2008 and What It Means
- The Post-American World
- see more
Browse for similar items by category:
- Books » Specialty Stores » Political Parties » Purple Politics
- Books » Subjects » Business & Investing » Economics » Economic Conditions
- Books » Subjects » Business & Investing » Economics » Economic Policy & Development
- Books » Subjects » Nonfiction » Government » Federal Government
- Books » Subjects » Nonfiction » Politics » General
Customer Reviews
Average Rating:
Rating: - Bad Money is a good read!
This is a must read for any elected pol who thinks they know whats going on.
Rating: 
- bad money
This book should be read before The Predator State is read.It is a less detailed, somewhat bias claim the understand the current situation in our economy but it lacks the meat that Galbraith covers in the Predator State.
I do believe that is is worth reading so that some understanding of what we are doing by borrowing so much at this time has caused.We seem to need a good recession to get back our ethics and begin real growth sometime soon.We are in very bad shape and now that the problem ... Read More
Rating: 
- Too bad he is an ideologue
If you are a Bush hater you will like this one. Too many statistics though. The author does have some interesting ideas about the current economic crisis and I look forward to learning more and deciding which I think are true.
Rating: - Interesting but lack of attention to the Kindle version
I'd give this 3 1/2 stars as I found the content fairly well presented but felt some of the issues were too rushed and could be more deeply examined analytically. It felt like the publisher's deadline was the more important criterion. Also, I appreciate that this was not a political partisan or ideological diatribe. Phillips is pretty fair in assigning failures to the people in control.
The loss of a star was due to the Kindle edition not linking footnotes or the index to their references ... Read More
Rating: 
- Best Book Around on the Financial Crisis
There is simply nothing better for understanding the mess we are in and what we will have to address if we really hope to dig our way out of this very deep hole. Required reading for all Americans. It is surprisingly readable for the information and deeper understanding Phillips is giving us. Puts things together so well you end up feeling like every other source of information or commentary sees only part of the elephant. Pair this with "The World is Flat" by Tom Friedman and you've got the ideal gift ... Read More
- Bad Money is a good read!This is a must read for any elected pol who thinks they know whats going on.
- bad moneyThis book should be read before The Predator State is read.It is a less detailed, somewhat bias claim the understand the current situation in our economy but it lacks the meat that Galbraith covers in the Predator State.
I do believe that is is worth reading so that some understanding of what we are doing by borrowing so much at this time has caused.We seem to need a good recession to get back our ethics and begin real growth sometime soon.We are in very bad shape and now that the problem ... Read More
- Too bad he is an ideologueIf you are a Bush hater you will like this one. Too many statistics though. The author does have some interesting ideas about the current economic crisis and I look forward to learning more and deciding which I think are true.
- Interesting but lack of attention to the Kindle versionI'd give this 3 1/2 stars as I found the content fairly well presented but felt some of the issues were too rushed and could be more deeply examined analytically. It felt like the publisher's deadline was the more important criterion. Also, I appreciate that this was not a political partisan or ideological diatribe. Phillips is pretty fair in assigning failures to the people in control.
The loss of a star was due to the Kindle edition not linking footnotes or the index to their references ... Read More
- Best Book Around on the Financial CrisisThere is simply nothing better for understanding the mess we are in and what we will have to address if we really hope to dig our way out of this very deep hole. Required reading for all Americans. It is surprisingly readable for the information and deeper understanding Phillips is giving us. Puts things together so well you end up feeling like every other source of information or commentary sees only part of the elephant. Pair this with "The World is Flat" by Tom Friedman and you've got the ideal gift ... Read More
